U.S. full-service investment bank Cowen Inc. (COWN) announced on Wednesday, March 23, that it has launched a dedicated digital asset division, becoming the latest Wall Street bank to enter the emerging cryptocurrency space.

The new unit named Cowen Digital will allow the bank's institutional investors to trade established cryptocurrencies, including Bitcoin, Ethereum, and Solana. It will also provide a custody solution to store digital assets through Standard Custody & Trust Co.

"Through Cowen Digital, our clients now have access to the crypto and digital asset markets with our institutional quality and fully integrated end-to-end execution and custody capabilities," Jeffrey Solomon, Cowen's chair and CEO, said in a statement. "Cowen is committed to outperforming for its clients by staying at the forefront of innovation," he added.